European Retailers to Sign Pact on Worker Safety in Bangladesh

MUNIR UZ ZAMAN/AFP/Getty Images(NEW YORK) -- Some of the biggest retailers in the world have signed on to a new agreement to improve worker safety in one of the world's poorest nations, Bangladesh.

The news comes less than a month after more than 1,100 workers died in the country, when an eight-story building near Dhaka that housed garment factories collapsed, despite earlier warnings that the complex was unsafe.

European retailers H&M, Tesco and the owners of Zara plan to sign a legally binding agreement. But Wal-Mart, The Gap and most other U.S. firms have not agreed to join them.